Devson Catalyst Limited is engaged in the manufacture of catalysts, adsorbents, and ceramic balls, which are used as essential materials in various industrial processes.
The company’s products are supplied to customers operating in industries such as oil & gas refineries, petrochemicals, steel, fertilizers, and other industrial processing sectors. These products help improve process efficiency, enhance operational reliability, and support sustainable industrial operations. Devson Catalyst serves both domestic and international markets.
The manufacturing facility is located at Plot Nos. 213 to 218 and 233 to 237, Phase II, Ambawadi, GIDC, Wadhwan City, Surendranagar, Gujarat – 363030, India. The total installed manufacturing capacity of the facility is 6,205 MT per annum.
Devson Catalyst Limited primarily operates in the business-to-business (B2B) segment, supplying its products to industrial and institutional customers. The company manufactures products based on customer requirements, enabling it to efficiently manage production planning, product specifications, order schedules, and delivery timelines.
Products Portfolio:
- Catalysts: Materials that accelerate chemical reactions without being consumed during the process, helping improve process efficiency.
- Adsorbents: Materials used to remove impurities such as moisture, dust, and other unwanted components from gases and liquids.
- Ceramic Balls: Ceramic support media used in industrial reactors and towers to support catalyst beds, ensure uniform flow distribution, and protect catalysts from pressure and flow variations.
As of May 31, 2026, the company had 56 permanent employees.
Devson Catalyst IPO – Details
| IPO Opening Date | 09 July 2026 |
| IPO Closing Date | 13 July 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 35,88,000 Shares Worth ₹42.34 Crore Fresh Issue: 33,38,000 Shares Worth ₹39.39 Crore Offer For Sale: 2,50,000 Shares Worth ₹2.95 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹112 – ₹118 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Devson Catalyst IPO – Date Schedule
| IPO Open Date | 09 July 2026 |
| IPO Close Date | 13 July 2026 |
| Basis of Allotment | 14 July 2026 |
| Initiation of Refund | 15 July 2026 |
| Credit of Shares to Demat | 15 July 2026 |
| IPO Listing Date | 16 July 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 13, 2026 |
Devson Catalyst IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,83,200 |
| Retail (Max) | 2 | 2400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9600 | ₹11,32,800 |
Competitive Strength
- Indigenous manufacturer of catalysts, adsorbents, and ceramic balls in India.
- Consistent profitability and financial performance in an industry with high entry barriers.
- Strategically located manufacturing facility with the capability to produce multiple product lines.
- Operates in an industry with significant entry barriers, supporting long-term business stability.
- Strong customer relationships and a growing presence in global markets.
Company Promoters
- Pratapbhai Devjibhai Siyania
- Prahladbhai Devjibhai Shiyaniya
- Patel Savan Prahladbhai
- Patel Krishna Savanbhai
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹43.75 Cr | ₹38.07 Cr | ₹4.08 Cr | ₹4.17 Cr |
| 31 March 2025 | ₹53.54 Cr | ₹43.16 Cr | ₹7.67 Cr | ₹2.78 Cr |
| 31 March 2026 | ₹56.84 Cr | ₹40.01 Cr | ₹12.52 Cr | – |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 45.97% |
| ROCE | 47.60% |
| Debt/Equity | 0.07 |
| RoNW | 37.38% |
| EBITDA Margin | 29.49% |
| Price to Book Value | 5.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.22 | 9.21 |
| P/E (x) | 9.66 | 12.81 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the Capital Expenditure requirements towards setting up a new manufacturing unit. | ₹17.40 |
| Funding the working capital requirements of the Company. | ₹12.00 |
| General Corporate Purpose. | – |
✅Strengths
- Diverse portfolio of catalysts, adsorbents & ceramic balls.
- Trusted supplier with strong industry experience.
- ISO-certified manufacturing facility.
- Well-positioned to benefit from India’s petrochemical industry growth.
⚠️Risks
- Dependent on uninterrupted power supply.
- Delay in approvals may impact expansion plans.
- Sensitive to industrial demand and economic conditions.
- Geopolitical and supply chain disruptions may affect operations.
Devson Catalyst IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | – |
Devson Catalyst IPO Prospectus
Company Contact Information
| Devson Catalyst Limited Plot No 213 to 218 and 233 to 237, Phase II, Ambawadi, GIDC Wadhwan City, Surendranagar, Gujarat, 363030 Phone: 91 7201010244 Email: info@devsongroup.com Website: https://www.devsongroup.com/ |
Devson Catalyst IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: +91-22-4918 6270 Email: devsoncatalyst.smeipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Devson Catalyst IPO Lead Manager(s)
| 1. JJ IPO Advisors Pvt. Ltd. |
Devson Catalyst IPO FAQ
| What is the Devson Catalyst IPO? Devson Catalyst IPO is an SME IPO. The issue is priced at ₹112 – ₹118 per equity share. The IPO is to be listed on BSE SME. |
| When will Devson Catalyst IPO open? The IPO is to open on 09 July 2026 for QIB, NII, and Retail Investors. |
| What is Devson Catalyst IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Devson Catalyst IPO Size? Devson Catalyst IPO size is ₹42.34 Crore. |
| What are the Devson Catalyst IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,83,200, while the maximum bid is 2400 Shares for ₹2,83,200. |
| What is the Devson Catalyst IPO Allotment Date? Devson Catalyst IPO allotment date is 14 July 2026. |
| What is the Devson Catalyst IPO Listing Date? Devson Catalyst IPO listing date is 16 July 2026. The IPO is to be listed on the BSE SME. |
